Hollister K. Petraeus Assistant Director, Office of Servicemember Affairs Consumer Financial Protection Bureau Testimony before U.S. Senate Committee on Homeland Security and Governmental Affairs July 23, 2013 Chairman Carper, Ranking Member Coburn, and distinguished Members of the Committee, thank you for the opportunity to testify before you today concerning higher education for our nation’s servicemembers […]
I am happy to take part in a dialogue like today’s hearing, to ensure that military families have all the information they need to make sound decisions about where and how they spend their military education dollars.
Military Consumer Protection Day was started to help the military community learn about the various laws, agencies, and resources that protect them from financial harm. Servicemembers should realize that they are the key to making sure all those resources work effectively. Learn about four ways you can help strengthen your consumer defenses here.
We announced a public enforcement action against U.S. Bank and Dealer’s Financial Services (DFS). At issue was the way they used the military discretionary allotment system to have servicemembers pay for cars bought through the MILES (Military Installment Loan and Education Services) Program. It’s an important announcement because it shines a spotlight on potential problems with the use of allotments as a way to pay off consumer debt. Read more here.
Did you know we’ve received more than 5,000 complaints from servicemembers, veterans, and their families? By and large, statistics for complaints submitted by the military track with those of the population at large. But these complaint statistics aren’t just numbers to us: they represent military members and their families and we know the impact consumer […]
You might be surprised to learn that April 23rd is “Teach Children to Save” Day. Yes, there seems to be a special day dedicated to just about everything. But, compared to celebrations like “Talk Like a Pirate Day,” teaching your kids to become savvy savers can instill lifelong positive financial habits in them and be […]